PubMatic (NASDAQ:PUBM) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of PubMatic (NASDAQ:PUBM) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on PUBM. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a report on Friday, August 7th. Citizens Jmp increased their target price on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Rosenblatt Securities raised their target price on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Lake Street Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of PubMatic in a research note on Friday, August 7th. Finally, Evercore reaffirmed an “outperform” rating and issued a $21.00 price target on shares of PubMatic in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

PubMatic Price Performance

PUBM opened at $16.50 on Friday. PubMatic has a 12 month low of $6.15 and a 12 month high of $18.44. The company has a fifty day simple moving average of $14.84 and a 200 day simple moving average of $11.40. The stock has a market cap of $751.58 million, a P/E ratio of -55.00 and a beta of 1.58.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The business had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. On average, equities research analysts expect that PubMatic will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Rajeev K. Goel sold 49,980 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.49, for a total value of $824,170.20. Following the completion of the transaction, the chief executive officer owned 16,083 shares of the company’s stock, valued at approximately $265,208.67. This trade represents a 75.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction on Monday, August 17th. The shares were sold at an average price of $17.05, for a total transaction of $136,400.00. Following the completion of the sale, the insider owned 112,945 shares in the company, valued at $1,925,712.25. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 581,703 shares of company stock valued at $9,151,166 over the last 90 days. 27.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PubMatic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantinno Capital Management LP increased its position in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the last quarter. Simcoe Capital LLC bought a new stake in PubMatic during the fourth quarter worth about $3,625,000. CenterBook Partners LP boosted its position in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares during the last quarter. Renaissance Technologies LLC boosted its position in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after purchasing an additional 321,200 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in PubMatic during the first quarter valued at approximately $1,687,000. 64.26% of the stock is owned by institutional investors.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.